EATONTOWN, N.J.--(BUSINESS WIRE)--Venarum Medical, LLC today announced receipt of a mentorship grant in further support of its awarded Phase II SBIR Grant “EVVS: EndoVenous Valve System” currently underway.
Under its Phase II work, Venarum proposes to verify the preclinical safety of the EndoVenous Valve System (EVVS), a novel patent-pending valve-replacement solution for treatment and mitigation of serious complications of chronic venous disease (CVD) such as chronic venous insufficiency (CVI) and related dysfunctional venous valves in the deep veins. This endovascularly-delivered device is intended to reduce the risk of edema, ulcers, amputation or other related complications. The EVVS comprises a novel Nitinol stent-like scaffold embedded in a biocompatible, thromboresistant polymer with integrated polymeric, flexible inner valve leaflets. The device is placed at or near the site of venous valve failure in order to significantly reduce reflux while promoting self-flushing to minimize blood stagnation and maintaining adequate forward flow. The recently awarded supplemental grant provides funds for the mentorship and professional development of a female engineer contributing to the project.
Venarum’s CEO/CTO, Janet Burpee said “The completed SBIR Phase I development proved feasibility of the EVVS concept including demonstration of excellent flow properties. In Phase II, Venarum intends to complete most of the preclinical testing required for FDA approval of an IDE enabling a US first-in-human clinical feasibility study.” Venarum is also working with its medical advisors to develop the US clinical protocol for its IDE submission. With regards to the recent SBIR award, Ms. Burpee added, “I am both thrilled to have ongoing support for the development of our prosthetic venous valve and to be able to dedicate additional resources to mentoring a young female engineer, something that is very important to me personally. The entire team will benefit from this and other mentorship opportunities.”
About NIH Grant Support of this Project
Development work described in this press release is supported by the National Heart, Lung, and Blood, Institute (NHLBI) of the National Institutes of Health under award number R44HL137540. To-date, approximately 37% of funding has come from this grant and 63% from private investors, together totaling just over $7 million. The content of this press release is solely the responsibility of Venarum Medical, LLC and does not necessarily represent the official views of the National Institutes of Health.
About Venarum Medical, LLC
Venarum Medical is a privately held medical device company that develops endovascular solutions to challenging vascular conditions such as deep vein chronic venous insufficiency (CVI). The EndoVenous Valve System is designed to provide an endovascular prosthetic venous valve implant that functionally replaces dysfunctional native venous valves. The EndoVenous Valve System operates throughout the range of blood flow and pressure conditions experienced in the venous system to significantly reduce or eliminate venous reflux, maintain forward flow, and resist thrombus formation.
